An organisation has a specific goal and a purpose for its existence. The functions of the organisation revolve around this goal. Goal-oriented strategies are designed to achieve better performance and to keep the organisation at competitive advantages.
To grow with minimum risk and excel in well crafted strategies, more and more companies are hiring strategy managers. As per theBureau of Labor and Statistics, 16,690 job requirements will be there for strategy managers per year through 2024.
What is Strategic Management?
Strategic management is designing the business strategies to achieve a significant purpose in rational expected time while staying ahead of competitors. It includes:
- Identification and description of long-term planning
- risk analysis
- monitoring internal functions and external environment
- resource assessment for effective utilisation
What do Strategy Managers do?
Strategy managers are required to excel the communication, interpersonal, people and above all analytical skills to excel in this highly sensitive and collaborative role. They formulate, plan, implement, control and evaluate the strategic cycle to achieve the mission of growth.
- Typical A-Level Requirement: AAA-AAB
- International Baccalaureate Requirement: 35 Points
- Academic Requirement for Post Graduation: A First or upper Second Class Honours Degree in management, business studies, economics, finance, accounting or any social science
- English Speaking Requirement: IELTS 6.5 overall with speaking and writing 6.5 and no other element below 6.0
Careers in Strategic Management
The median salary for a strategic planning manager was $93,195 (PayScale.com 2016). As per BLS, the expected growth in Strategic Management roles is 6% throughout 2014-24 period. Career options include:
- Manager (General, Account, Project, Alliance, Innovation, Venture, Business Unit)
- Business Analyst
- Customer Insights Advisor
- Consultants (Senior/Junior)
- Planning Specialist
- Research Analyst
- Strategy Advisor
Top Universities to Study Strategic Management in the UK
- The University of Manchester
- University of Stirling
- University of Birmingham
- University of Sussex
- University of Leeds
- The University of Law Business School
- Heriot-Watt University
- University of Aberdeen
Apply to study Strategic Management in the UK
Do you want to study strategic management in the UK? If so arrange a free consultation at your nearest SI-UK office in Delhi, Mumbai, Pune, Bangalore or Chennai today.